Goldman, Citi and Global Banks Commit $270 Million to Challenge Crypto’s Stablecoin Giants
The funding, backing a U.S.-incorporated issuer codenamed “Project Faro,” covers five years of operations as traditional lenders move to challenge crypto-native giants Tether and Circle.
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Cryptocurrency
A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.
Crypto prices are volatile, and governments are still deciding how to regulate it.
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